Facebook Pixel Boosting India's EV Ecosystem | Millennium Post Delhi - newspaper - Read this story on Magzter.com

Try GOLD - Free

Boosting India's EV Ecosystem

Millennium Post Delhi

|

February 07, 2025

Developing EV programmes as a self-reliant industrial policy is underscored in the new budget with a strong emphasis on de-risking the supply chain

- ANUMITA ROYCHOWDHURY

Boosting India's EV Ecosystem

Finance Minister Nirmala Sitharaman, in her speech on the Union Budget 2025-26, has underscored the need for localisation of electric vehicle (EV) manufacturing and raw material security for battery production. This signals a firmer policy thrust on industrial development and employment generation around EV production in India.

This can be an opportunity to join climate and clean air action with an industrial strategy to accelerate clean energy transition in the automotive sector. The budget proposal has further connected electrification with the upscaling of mass commuting modes of electric buses to maximise the energy and emissions-saving gains.

The cornerstones of the spending priority outlined in the Union budget are as follows:

Support and incentives for electric vehicle manufacturing with custom duty exemptions on 35 capital goods for EV battery manufacturing, and support for domestic manufacturing of motors, controllers and other critical components and integration of EV manufacturing with clean tech manufacturing programmes.

There is a committed budget for the PM-e-drive with a sizable allocation of Rs 4,000 crore to upscale electrification of the two-wheeler and heavy-duty vehicle segments.

PM e-Bus Sewa payment Security Mechanism for procurement and operations of e-buses by public transport authorities to upscale and sustain electric bus services during their service life to decarbonise mass commuting in cities.

There is continued support for the Production Linked Incentive (PLI) schemes for advanced chemistry cell manufacturing.

MORE STORIES FROM Millennium Post Delhi

Millennium Post Delhi

Millennium Post Delhi

Punjab Cabinet gives nod to ‘Budget Estimates’ for 2026-27

The Punjab Cabinet led by Chief Minister Bhagwant Mann on Friday cleared the presentation of Supplementary Demands for Grants for the year 2025-26 and Budget Estimates for the year 2026-27, along with CAG audit reports for the year 2024-25, in the ongoing Budget session of the Vidhan Sabha.

time to read

1 min

New Delhi 07March2026

Millennium Post Delhi

Fadnavis presents 1st budget, announces Rs 2L farm loan waiver

The Maharashtra government on Friday announced a farm loan waiver of up to Rs 2 lakh in the 2026-27 Budget, which also focuses on river-linking projects, women empowerment, youth development, health, startups and strengthening social welfare schemes.

time to read

1 min

New Delhi 07March2026

Millennium Post Delhi

Millennium Post Delhi

Peter Jackson to receive Palme d'Or at Cannes Film Festival

The film festival will take place on May 12

time to read

1 min

New Delhi 07March2026

Millennium Post Delhi

K’taka CM presents 17th Budget; alleges injustice by Centre

Presenting his record 17th Budget on Friday, Karnataka Chief Minister Siddaramaiah said, by not adhering to the federal system of governance as per the constitution, the Centre is doing injustice to Karnataka.

time to read

1 min

New Delhi 07March2026

Millennium Post Delhi

Millennium Post Delhi

Rodrigues lone bright spot as Oz gain edge

Jemimah Rodrigues fought bravely with a fifty but other India batters failed to counter the swing generated by Australian pacers Annabel Sutherland and debutant Lucy Hamilton, getting bundled out for a lowly 198 on the opening day of the one-off day-night Test here on Friday.

time to read

1 min

New Delhi 07March2026

Millennium Post Delhi

India's forex stocks jump $4.885 bn to $728.494 bn

India’s forex reserves jumped $4.885 billion to an all-time high of $728.494 billion during the week ended February 27, the Reserve Bank said on Friday.

time to read

1 min

New Delhi 07March2026

Millennium Post Delhi

PM to inaugurate, lay foundation of projects worth Rs 33,500 crore

Prime Minister Narendra Modi will launch and lay the foundation stones of multiple development projects, including inaugurating two new corridors of the Delhi Metro, in the national capital on Sunday.

time to read

1 mins

New Delhi 07March2026

Millennium Post Delhi

Millennium Post Delhi

'No shortage of funds, no tolerance for laxity'

AIMAN FATIMA

time to read

1 min

New Delhi 07March2026

Millennium Post Delhi

Millennium Post Delhi

DIVYA DUTTA'S 'CHIRAIYA' REMINDS ONE OF BENGALI SERIES 'SAMPURNA

For those who have watched the Bengali web series 'Sampurna' on 'Hoichoi, you are bound to find a resemblance with the trailer of Divya Dutta-starrer Hindi web series 'Chiraiya.

time to read

1 min

New Delhi 07March2026

Millennium Post Delhi

Millennium Post Delhi

Storm water drain remodelling works worth Rs 177 cr approved

AIMAN FATIMA

time to read

2 mins

New Delhi 07March2026

Listen

Translate

Share

-
+

Change font size